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      "text": "Lufthansa Group achieves year-on-year earnings improvement.",
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      "text": "Adjusted EBIT: EUR 1,480m",
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      "text": "In the Logistics business segment, the positive operating and financial development continued. Lufthansa Cargo expanded its volume of traffic and achieved an Adjusted EBIT of EUR 184m, which was EUR 254% higher than in the previous year (previous year: EUR 52m).",
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      "text": "The Lufthansa Group's Passenger Airlines further increased their volume of traffic due to the continued high level of demand for air travel, and to holiday destinations especially. Capacity increased by 4% year-on-year in the reporting period.",
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      "text": "The Lufthansa Group further strengthened its balance sheet in the reporting period. Due to its free cash flow, which exceeded interest and dividend payments, as of 30 September 2025 net indebtedness amounted to EUR 5,116m, a EUR 628m decrease on year-end 2024 (31 December 2024: EUR 5,744m).",
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      "text": "Lufthansa Group achieves year-on-year earnings improvement. Overall, the Lufthansa Group achieved a positive earnings development in the first nine months of the 2025 financial year.",
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      "text": "Operating cash flow increased by 83% to EUR 1,842m (previous year: EUR 1,006m) due to the higher EBITDA figure, supported by cash inflows from taxes in connection with tax audits completed in Germany. Negative working capital effects partially offset this. Financial position, p. 9.",
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      "text": "As of 30 September 2025, the Lufthansa Group had EUR 11,938m of available liquidity in total (31 December 2024: EUR 11,036m). Net assets, p. 10.",
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      "text": "In the MRO business segment, Adjusted EBIT fell by 6% in the reporting period to EUR 440m (previous year: EUR 466m) due to the devaluation of the US dollar, inflation- and growth-related cost increases as well as higher tariffs. Business segments, p. 12.",
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      "text": "Net pension obligations decreased by EUR 438m to EUR 2,128m (31 December 2024: EUR 2,566m), primarily due to the increase in the discount rate.",
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      "text": "Operating expenses at the Lufthansa Group were up by 5% to EUR 30,467m (previous year: EUR 29,140m), in particular due to the increased costs for fees and charges and human resources. Lower fuel costs, reduced costs arising from strikes and irregularities in flight operations as well as exchange rate effects partially offset this.",
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      "text": "The Passenger Airlines' Adjusted EBIT improved by 11% year-on-year in the reporting period to EUR 914m (previous year: EUR 825m).",
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      "text": "The Lufthansa Group achieved a positive Adjusted free cash flow in the reporting period. At EUR 1,842m, this was 83% higher than in the previous year (previous year: EUR 1,006m). This increase is based on the rise in operating cash flow and reduced net capital expenditure.",
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      "text": "Lufthansa Airlines is forging ahead with its turnaround programme, and this is having a substantial positive effect on operational stability. Overall, in the reporting period the Lufthansa Group's Passenger Airlines posted their highest levels of punctuality and regularity since the start of the coronavirus pandemic.",
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      "text": "The Lufthansa Group's Adjusted EBIT came to EUR 1,480m in the reporting period (previous year: EUR 1,177m). Its result thus improved by 26% year-on-year.",
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      "text": "The ratio of Adjusted net debt/Adjusted EBITDA in the past twelve months stood at 1.6 as of 30 September 2025 and was thus lower than at the end of 2024 (31 December 2024: 2.0).",
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